Golombek: Advisors should take advantage of CRA loan rate
Interview of Jamie Golombek |
Jamie Golombek, managing director of tax and estate planning for CIBC Private Wealth Management, says advisors should be helping clients take advantage of the Canada Revenue Agency's 1% prescribed loan rate that allows family members to transfer funds to each other and potentially reduce the overall tax burden. The CRA recently announced the loan rate would remain at 1% until at least the end of September 2010. Golombek spoke at the TMX Broadcast Centre in Toronto.